Author : Prof(Mrs) Igwenagu C.M
Intellectual Property (IP) refers to creation of the mind such as inventions, literary and artistic works; designs; and symbols, names and images used in commerce. When patent are acquired on these intellectual properties, they are then protected by law, which makes it possible for people to earn recognition or financial benefits from what they have invented or created.. Patent acquisition can be referred to as the process or act of obtaining or acquiring a property right for an invention by an inventor. This follows a number of lay down rules or processes; which enables smooth understanding and agreement among the parties involved. Most of the rules are usually contained in the Intellectual property policy (IP Policy) document. The reward of hard work put in getting intellectual property is usually enormous with patent acquisition. Hence is advisable always to acquire patent right for every invention/ innovation.
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